European stocks fell on Friday, heading for its worst week in two months following a carnage on Wall Street as investors feared that bigger interest rate hikes would be needed to tame decades-high inflation.
The pan-European Stoxx 600 index declined 0.6 per cent by 0709 GMT, with travel & leisure and technology stocks falling the most. Oil & gas stocks were the sole gainers as crude prices traded above $110 a barrel. US stocks ended Thursday sharply lower as investor sentiment cratered in the face of concerns that the Federal Reserve’s interest rate hike this week would not be enough to tame surging inflation.
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